SYNOPSIS ALL INDUSTRY CONFERENCE CALL August 29, 2012

If there is a subject you would like to see addressed on Wednesday, September 5, please email Mike Barry at michaelb@iii.org.

HURRICANE ISAAC OVERVIEW

I.I.I. has been implementing its communications plan, aggressively reaching out to the media about what is covered and what is not, particularly the flood exclusions that exist in most policies. The I.I.I. has been issuing news releases and conducting media interviews for months with a particular emphasis on the importance of considering flood insurance and understanding hurricane deductibles.

 

On Friday, August 24, the I.I.I. issued a press release informing consumers that Isaac was the first major storm of the hurricane season and reviewing the importance of having an evacuation plan. The release also promoted the I.I.I.’s new “Know Your Plan” app. A media advisory was sent on Friday and again over the weekend reminding reporters of the I.I.I.’s resources and the availability of its spokespeople.

 

Also over the weekend, I.I.I. sent out a press release on hurricane deductibles and another release on storm surge, tornadoes and inland flooding caused by hurricanes, as well as information about insurance coverage. 

 

On Monday, August 27, a release was sent out to reporters noting that U.S. insurers remain financially strong as Isaac moved toward the Gulf States.

 

I.I.I. sent out a media advisory on Tuesday, August 28, reminding reporters that I.I.I. has national and local insurance experts who can discuss insurance implications of Hurricane Isaac. The advisory also included state specific Fact Files for Alabama, Louisiana and Mississippi. Other releases in the works: An FAQ on coverage issues; how to prepare for an insurance adjusters visit; how to file a claim (including how to file a flood claim); and a review of supply chain insurance.

 

The strategy has been to distribute the news releases one step ahead of the news cycle. In addition to reaching out to traditional media, the I.I.I. is aggressively promoting its information via social media. The I.I.I. featured the video: Five Steps to Make Your Home More Hurricane Resistant and the 10 Minute Evacuation Challenge on its website. The Facts and Statistics section of the website offered information on Hurricanes. The home page featured flood insurance information in its Spotlight and Claire Wilkinson’s blog, Terms + Conditions, looked at the “Eye of Isaac,” noting that Florida, Texas, Alabama, Georgia, Louisiana and Mississippi have significant insured coastal property values. I.I.I. also developed talking points on estimated insured losses, the impact on insurance rates, coastal exposure and the economic strength of the industry.

I.I.I. has had a steady stream of media interest in Isaac, including queries from Investor’s Business Daily, SNL Financial and Bloomberg News. The I.I.I. was mentioned in a Fox News.com piece in which our tips for protecting your home against hurricane damage were mentioned. Bob Hartwig did a phone interview on Gerri Willis’ show on Fox Business on August 29 at 6:00 p.m. Jeanne Salvatore spoke with The New York Times Bucks blogger Ann Carrns on hurricane deductibles. Loretta Worters did a radio interview on Sunday, August 26, with WTOP-FM on coverage issues and Charlie Mead (cmead@bloomberg.net) of Bloomberg Business News.

Blythe Lamonica with the Louisiana Gulf State Insurance Information Center (GSIIC) discussed what had transpired since the storm hit. She noted that she touched base with the board members of GSIIC. She also reached out to Jeff Albright of the Independent Insurance Agents and Brokers of Louisiana, and was in constant contact with Ileana Ledet, the Public Affairs director for the Louisiana Department of Insurance. She noted that it was too early to tell how much damage there had been though she said there had been widespread power outages—probably more than 200,000 people across Louisiana did not have electricity. Entergy, which provides power to the area, was being criticized by local government officials for what they said was a slow pace of restoration. Plaquemines Parish remained under as much as five feet of water. Lamonica said that Baton Rouge was under a tornado watch and if it occurred there would likely be more damage in that part of the state.

 

Renee Carter with the Alabama Insurance Information Service (AIIS) reported that the major insurers in Alabama have received few claims at this time. Because the damage to Alabama was predominately from flood, which is not covered under the standard homeowners policy, the expectation is that the number of claims filed will remain low. AIIS issued a press release on Saturday, August 25, warning residents of coastal Alabama to prepare, regardless of whether Isaac turned into a hurricane. AIIS provided residents with tips on how to make preparations to protect lives and property in case a more extreme event followed. AIIS was in constant communication with the Alabama Department of Insurance, the Alabama Emergency Management Agency (participating as a member of its Joint Field Operations Team on Monday, August 27) and FEMA as Isaac progressed across the Gulf. Because the major impact occurred west of Alabama, very little follow up with the media or officials was required.

 

The I.I.I.’s Bill Davis reported that there was some damage in Mississippi but that losses appeared worse in Louisiana. He said there was no slab claim issue such as with Katrina. Davis reached out to The Weather Channel and they are likely to use some of the I.I.I. material next week. Davis will go down to the Gulf Coast next Tuesday, September 4, in order to have an industry presence and meet with reporters.

Lynne McChristian noted that Hurricane Isaac was primarily a flood event for Florida. To engage media in covering the flood damage, she sent targeted emails to some of the state’s daily newspapers where flooding had occurred. She informed reporters of the number of flood policies in force today compared with those of four years ago and included links to data from the NFIP. This resulted in a story in the Palm Beach Post. She noted that NFIP is no longer requiring a single adjuster on flood claims and that many people may see two adjusters, one for the wind and another for the flood claim. McChristian developed a news release for Florida media, noting that once a storm threat becomes a watch or warning it is too late to get insurance in the state. She also developed a press release on Preparing for the Adjuster’s Visit.

 

This week there have been 54 posts on Facebook by insurance agents and companies about the I.I.I. and Isaac, many of them sharing the I.I.I.’s disaster preparedness new iPhone app, Know Your Plan. The app has also continued to receive attention on Twitter as a valuable tool to help homeowners get organized before a storm. 

The topics of hurricane deductibles and the importance of having an evacuation plan are both trending topics on Twitter with I.I.I. content and recent press releases being shared by insurance agents and consumer groups.

 

Finally, at least two dozen insurance and consumer blogs are writing about preparing for a disaster and how to protect your home from hurricane damage using I.I.I. content and videos. Many of these blogs focus on the importance of having enough coverage well before a hurricane arrives. 

 

The I.I.I. is cited regularly in the media as an authoritative source of insurance information. To access the current I.I.I. press clips, click here

 

For an I.I.I. Blog search, click here.